Virgin Atlantic gave away an economy class round-trip ticket to London to 800 travel agents and tour guides at a Toronto party to promote the closely held carrier's June 12 introduction of flights to the U.K. capital from Canada's biggest city.

The airline will offer daily service between London's Gatwick airport and Toronto's Lester B. Pearson International Airport, hoping to compete against Air Canada for some of the 1.3 million passengers who fly each year between London and Toronto.

Branson, 50, who flew in for the day on Air Canada, the country's dominant airline, cracked jokes about the origin of the "Virgin" trademark and screened clips of bloopers from commercials he made for American Express Co.

The British entrepreneur surprised the crowd at the end of his speech by announcing the free flights. "It'll probably cost me a couple of jumbo jet loads, but see you all in London," he said.

The airline will forgo at least $559,200 in Canadian currency ($355,600 U.S.) in revenue for the 800 guests who got free tickets.

Branson said he won't compete with Air Canada by lowering fares. Instead, during the six-hour Toronto-London flight, he'll give economy-class passengers three choices of meals, complimentary drinks and their own television monitor.